Sumitomo Mitsui Trust Group Inc. Trims Stock Holdings in United Rentals, Inc. (NYSE:URI)

Sumitomo Mitsui Trust Group Inc. reduced its stake in shares of United Rentals, Inc. (NYSE:URI) by 0.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,714 shares of the construction company’s stock after selling 72 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.28% of United Rentals worth $147,139,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in URI. Crewe Advisors LLC bought a new position in United Rentals in the first quarter worth approximately $27,000. RFP Financial Group LLC raised its stake in United Rentals by 115.8% in the second quarter. RFP Financial Group LLC now owns 41 shares of the construction company’s stock worth $27,000 after buying an additional 22 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. purchased a new stake in United Rentals during the third quarter worth $31,000. Carmichael Hill & Associates Inc. boosted its position in United Rentals by 80.0% during the 3rd quarter. Carmichael Hill & Associates Inc. now owns 45 shares of the construction company’s stock valued at $36,000 after acquiring an additional 20 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in United Rentals by 280.0% in the second quarter. HHM Wealth Advisors LLC now owns 57 shares of the construction company’s stock valued at $37,000 after purchasing an additional 42 shares during the last quarter. 96.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Barclays raised their target price on shares of United Rentals from $400.00 to $565.00 and gave the company an “underweight” rating in a research note on Friday, October 25th. The Goldman Sachs Group upped their price objective on shares of United Rentals from $790.00 to $905.00 and gave the company a “buy” rating in a report on Friday, July 26th. JPMorgan Chase & Co. lifted their price objective on shares of United Rentals from $780.00 to $940.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Bank of America raised their target price on United Rentals from $800.00 to $910.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI upped their target price on United Rentals from $774.00 to $795.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, United Rentals currently has an average rating of “Hold” and a consensus price target of $742.50.

United Rentals Price Performance

NYSE:URI opened at $868.60 on Wednesday. The stock has a 50 day moving average of $797.79 and a two-hundred day moving average of $723.15. United Rentals, Inc. has a 12 month low of $453.23 and a 12 month high of $896.98. The firm has a market cap of $57.00 billion, a P/E ratio of 22.68, a price-to-earnings-growth ratio of 2.04 and a beta of 1.68. The company has a current ratio of 0.82, a quick ratio of 0.77 and a debt-to-equity ratio of 1.38.

United Rentals (NYSE:URI) last issued its earnings results on Wednesday, October 23rd. The construction company reported $11.80 EPS for the quarter, missing analysts’ consensus estimates of $12.49 by ($0.69). The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.01 billion. United Rentals had a net margin of 17.12% and a return on equity of 34.73%. United Rentals’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $11.73 earnings per share. On average, analysts expect that United Rentals, Inc. will post 43.66 earnings per share for the current fiscal year.

United Rentals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Wednesday, November 13th. United Rentals’s payout ratio is currently 17.03%.

Insider Buying and Selling at United Rentals

In other news, SVP Anthony S. Leopold sold 900 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $823.24, for a total transaction of $740,916.00. Following the transaction, the senior vice president now owns 2,044 shares of the company’s stock, valued at approximately $1,682,702.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.49% of the stock is owned by company insiders.

United Rentals Company Profile

United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals and Specialty. The General Rentals segment rents general construction and industrial equipment includes backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools for construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities.